Strong #homebuying sentiment despite drop in #developersales in May

SINGAPORE developers' private home sales fell by about a third (34.3 per cent) between April and May 2017. Amid the absence of major launches last month, 1,024 units were sold, down from 1,558 in April. This marks the second consecutive decline in the month-on-month numbers; developers had moved 1,780 units in March. But property consultants are upbeat, noting that sales of more than 1,000 units last month, coming overwhelmingly from previously launched projects, is a reflection of strong home buying sentiment. In fact, primary market demand for units in previously launched projects has remained above 1,000 units for three consecutive months - at 1,079 units in March, 1,004 units in April and 1,008 units in May, said property consulting group JLL. Moreover, the 5,544 private homes that developers sold in the first five months of this year is 71.8 per cent higher than the 3...